BUA Cement has notified the Nigerian Exchange and investing public that it is contemplating to raise capital for capacity expansion.
According to a notification available on the website of the Nigerian Exchange, the Company said it has gone into discussion with the International Finance Corporation (IFC), serving as lead arranger in conjunction with a number of other lenders in a syndication pool, to obtain a loan for the expansion of BUA Cement’s integrated cement plant in Kalambaina, Sokoto State which shall include increasing its capacity from 2.0 million tons per annum (MTPA) to 8.0 MTPA and the development of other ancillary utilities (the Expansion Project).